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CALGARY, Alberta - Petrus Resources Ltd. (TSX: PRQ), an oil and gas company operating in Alberta with a market capitalization of $119.28 million and current trading price of $0.92, announced that its shareholders have approved all proposed resolutions during its annual general meeting held on Wednesday. According to InvestingPro data, the company maintains a FAIR financial health score and generated revenue of $53.86 million in the last twelve months. Among the resolutions passed was the election of five directors who will serve until the company’s next annual meeting.
The directors elected are Donald Gray, Donald Cormack, Patrick Arnell, Ken Gray, and Peter Verburg. The voting results showed overwhelming support for the nominees, with the percentage of votes for ranging from 99.75% to 99.97%. Votes withheld were minimal, not exceeding 0.25% for any director. Notably, the company maintains a significant dividend yield of 9.3%, demonstrating its commitment to shareholder returns.
Shareholders also passed a resolution concerning the company’s restricted share unit award plan, approving unallocated restricted share unit awards and ratifying previous grants. Additionally, the appointment of PricewaterhouseCoopers LLP as the company’s auditors received approval.
Petrus Resources is known for its focus on exploiting properties, strategic acquisitions, and risk-managed exploration. The company has demonstrated profitability over the last twelve months and maintains a strong five-year return track record. For comprehensive analysis and additional insights, investors can access detailed financial metrics and ProTips through InvestingPro’s extensive research platform. The company’s management team can be contacted for further information.
The details provided in this report are based on a press release statement issued by Petrus Resources Ltd.
In other recent news, Petrus Resources announced its financial results for the first quarter of 2025, reporting an earnings per share (EPS) of -$0.02 and revenue of $20.93 million. Despite an increase in net debt by approximately 10%, the company remains committed to its capital spending guidance, which is set between $40 million and $50 million. Petrus Resources is focusing on strategic capital deployment and operational efficiency, with ongoing drilling and production efforts in core areas. CEO Ken Gray highlighted the company’s proactive approach, mentioning the strategic allocation of capital to seize time-sensitive opportunities. The company plans to reduce its debt-to-cash flow ratio in the latter half of the year. Petrus Resources’ operational activities include bringing new wells online, particularly in the Barrier area, to enhance growth. The earnings call did not include a Q&A session, leaving some investor inquiries unanswered. However, the company’s focus on operational efficiency suggests a forward-looking strategy amid current challenges.
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